Matters relating to issue of capital, transfer of securities and other incidental matters;

Manner how the disclosures have to be made by companies;

Prohibit any company from issuing prospectus, any offer document or advertisement soliciting money from public for issue of securities. specify the conditions based on which the prospectus may be issued

Specify the requirements of listing, transfer of securities and other matters incidental thereto.

14.
15 A Penalities under SEBI Act, 1992 LISTED COMPANIES / INTERMEDIARIES / ANY OTHER PERSON Applicability To maintain books of account or records File any return or furnish any information, books or other documents within the time specified therefore in the regulations Penalty of Rs.1 Lakh Per Day during which such failure continues or Rs. 1 Crore, whichever is less Failure to furnish any document, return or report to the Board Penalty Contravention

15.
15 B Penalities under SEBI Act, 1992 INTERMEDIARIES Applicability Penalty of Rs.1 lakh per day during which such failure continues or Rs. 1 crore, whichever is less Failure to enter into an agreement with his client Penalty Contravention

16.
15 C Penalities under SEBI Act, 1992 LISTED COMPANY / INTERMEDIARIES Applicability Penalty of Rs.1 lakh per day during which such failure continues or Rs. 1 crore, whichever is less Failure to redress the grievances of investors , after having been called upon by the Board in writing to redress the grievances of investors. Penalty Contravention

17.
15 D Penalities under SEBI Act, 1992 MUTUAL FUNDS / COLLECTIVE INVESTMENT SCHEME (CIS) Applicability Penalty of Rs.1 lakh per day during which such failure continues or Rs. 1 crore, whichever is less Doing such activity without obtaining certificate of registration , OR fails to comply the conditions specified in the governing regulations Penalty Contravention

18.
15 E Penalities under SEBI Act, 1992 ASSET MANAGEMENT COMPANY Applicability Penalty of Rs.1 lakh per day during which such failure continues or Rs. 1 crore, whichever is less Fails to comply with any of the regulations providing for restrictions on the activities of the asset management companies Penalty Contravention

19.
15 F Penalities under SEBI Act, 1992 STOCK BROKER Applicability Penalty of Rs. 1 Lakh or 5 times the amount of brokerage excess charged, whichever is higher. Charges excess brokerage Penalty of Rs. 1 lakh per day during which such failure continues or Rs. 1 crore , whichever is less Fails to deliver any security Penalty not exceeding 5 times the amount of contract note . Fails to issue contract notes Penalty Contravention

20.
15 G Penalities under SEBI Act, 1992 ANY INSIDER Applicability Penalty of Rs. 25 crore or 3 times the amount of profits made out of such insider trading, whichever is higher. Contravention of provisions of Insider Trading Regulations Penalty Contravention

21.
15 H Penalities under SEBI Act, 1992 ANY ACQUIRER / PERSON ACTING IN CONCERT (PAC) Applicability Penalty of Rs. 25 crore or 3 times the amount of profits made out of such failure, whichever is higher. Contravention of provisions of Takeover Code Regulations Penalty Contravention

22.
15 HA Penalities under SEBI Act, 1992 LISTED COMPANIES / INTERMEDIARIES / ANY OTHER PERSON Applicability Penalty of Rs. 25 crore or 3 times the amount of profits made out of such practices, whichever is higher. Indulgence in any Fraudulent and Unfair Trade Practices. Penalty Contravention

23.
15 HB Penalities under SEBI Act, 1992 LISTED COMPANIES / INTERMEDIARIES / ANY OTHER PERSON Applicability penalty which may be extend to Rs. 1 Crore Contravention of any of the provision of the Act where no specific penalty is specified Penalty Contravention

24.
23 Penalities under SCR Act, 1956 LISTED COMPANIES / INTERMEDIARIES / STOCK EXCHANGES ANY OTHER PERSON Applicability Imprisonment up to 10 years OR Fine up to Rs. 25 crore OR Both

trades in contraventions

of various sections of the

Act,

operating non-

recognized exchanges,

non-compliance with the

orders of SAT ,

non-compliance with the

conditions of listing etc.

Penalty Contravention

25.
23 A Penalities under SCR Act, 1956 ANY PERSON Applicability (b) Failure by any person to maintain books of accounts or records as per listing agreement or conditions. Rs. 1 lakh for each day during which such failure continues OR Rs. 1 crore Whichever is LESS (a) Failure by any person to furnish any information, document, books, returns or report to a stock exchange within specified time Penalty Contravention

26.
23 C Penalities under SCR Act, 1956 BROKER/ LISTED COMPANY/PROPOSED LISTED CO. Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1 crore Whichever is LESS Failure to redress the grievances of investors after having been called upon by SEBI to do so Penalty Contravention

29.
23 G Penalities under SCR Act, 1956 STOCK EXCHANGE Applicability Penalty not exceeding Rs. 25 crore Failure or neglect by an exchange to furnish periodical returns to SEBI OR make or amend its rules/byelaws as directed by SEBI OR comply with directions of SEBI Penalty Contravention

30.
19 A Penalities under Depositories Act, 1996 ANY PERSON Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1crore, whichever is LESS a). Failure to furnish any information, document, books, returns or report to SEBI b). Failure to file any return or furnish any information, books or other documents under the Act c). Failure to maintain books of accounts or records Penalty Contravention

31.
19 B Penalities under Depositories Act, 1996 INTERMEDIARY INCLUDING DEPOSITORY & DP / ISSUER Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1crore, whichever is LESS Failure to enter into agreement required under the Act or any rules or regulations made there under Penalty Contravention

32.
19 C Penalities under Depositories Act, 1996 INTERMEDIARY INCLUDING DEPOSITORY & DP / ISSUER Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1crore, whichever is LESS Failure to redress the grievances of investors after having been called upon by SEBI to do so Penalty Contravention

33.
19 D Penalities under Depositories Act, 1996 INTERMEDIARY / ISSUER Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1crore, whichever is LESS Failure to dematerialize or rematerialize the securities within specified time in the Act or regulations or byelaws or abets delay Penalty Contravention

34.
19 E Penalities under Depositories Act, 1996 INTERMEDIARY / ISSUER Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1crore, whichever is LESS Failure to reconcile the records of de-materialized securities with all the securities issued by the issuer as specified in the regulations Penalty Contravention

35.
19 F Penalities under Depositories Act, 1996 RECO: “not exceeding one lac rupees for each day during which such failure continues subject to a maximum of one crore rupees”, for the sake of clarity. ANY PERSON Applicability Rs. 1 lakh for each day during which such failure continues OR Rs. 1crore, whichever is LESS Failure to comply with the directions issued by SEBI under section 19 of DP Act 1996, within specified time Penalty Contravention

36.
19 G Penalities under Depositories Act, 1996 RECO: Section 15HB of SEBI Act, may be amended to provide for monetary penalty for the failure to comply with the orders of SEBI and to amend section 24 (2) to make noncompliance of SEBI order an offence under the provisions of the said section. ANY PERSON Applicability Penalty not exceeding Rs. 1 crore Failure to comply with any provision of the Act, the rules or regulations or byelaws made or directions issued by SEBI there under for which no separate penalty has been provided Penalty Contravention

Independent of penalty imposed by Adjudicating Officer under the Acts.

Authority not lower than Session Court .

The complaint should be filed within the period of Limitation under Limitation Act, 1963

38.
24 Offences under SEBI Act, 1992 Offences for which prosecution can be launched

Imprisonment not less than 1 month but may extend to 10 Years ; or

With fine, which may extend to 25 crore rupees, or

With Both

Failure to pay the penalty OR Failure to comply with any directions

Imprisonment may extend to 10 Years ; or

With fine, which may extend to 25 crore rupees, or

With Both

Non Compliance of any of the provision of the Act, rules or regulations made hereunder. Punishment Offence

39.
23 M Offences under SCR Act, 1992 Offences for which prosecution can be launched

Imprisonment not less than 1 month but may extend to 10 Years ; or

With fine, which may extend to 25 crore rupees, or

With Both

Failure to pay the penalty OR Failure to comply with any directions

Imprisonment may extend to 10 Years ; or

With fine, which may extend to 25 crore rupees, or

With Both

- Non Compliance of any of the provision of the Act - Non-Compliance of any of the provision for which no punishment is provided elsewhere in this Act. Punishment Offence

40.
20 Offences under DP Act, 1996 Offences for which prosecution can be launched Imprisonment up to 10 years (not less than one month) OR fine up to Rs. 25 crore OR BOTH Failure to pay the penalty imposed by adjudicating officer or to comply with any of his directions or orders Imprisonment up to 10 years OR Fine up to Rs. 25 crore OR BOTH Contravenes or attempts to contravene or abets the contravention of the provisions of the Act or of any rules or regulations or byelaws made there under Punishment Offence

43.
Holding Enquiry & Imposing Penality Contravention Noticed Exparte decision If no response SCN to Party Party to file Reply Appointment of Enquiry Officer Notice Issued Reply within 15 days Hearing Date Fixed Enquiry Report by EO Representation Before EO Order by Chairman Impose Minor or Major Penalty For contravention of the provision of regulations mentioned in Reg 4

The offence must not be punishable with Imprisonment only or with imprisonment and fine under SEBI Act ,

The offences can be compounded either before or after the institution of proceedings,

The offence can be compounded by SAT or by the Court under which the proceedings are pending,

The provision of SEBI Act shall be applicable notwithstanding any thing stated in Criminal Procedure Code.

24 A RECO: its been recommended that the said section may be amended to provide for compounding of all violations and not only offences, on the lines of provisions contained in Section 279 (2) of Income Tax Act 1961 .

53.
Power to Grant Immunity Special Powers to grant immunity from Penalty

Can be granted by Central Government

Where the alleged person gives a full and true disclosure in respect of the alleged violation

Central government imposes such conditions as it may think fit.

No immunity granted where the prosecution has already been instituted.

Immunity once granted can be withdrawn on non compliance of any condition imposed or giving of false evidence.

“ Penalties unless specifically made retrospectively must inevitable be only with effect from the date of the amendment.

RECOS : SEBI be empowered to make regulation with respect to retrospective effect in the matter relating to charging of fees or procedural matters for the limited purpose of giving relief and not for imposing new liabilities and obligations.